The Hong Kong Securities and Futures Commission (SFC) has commenced proceedings in the Court of First Instance against Mr. Sui Kwong, former Chairman and Non-Executive Director of Ding Yifeng Holdings Group International Limited, and 20 other persons for allegedly manipulating Ding Yifeng's shares between 1 March 2018 and 14 September 2018.。

The SFC is seeking a number of orders under section 213 of the Securities and Futures Ordinance to restore the affected counterparties to their pre-trading positions, to restrain the defendant from disposing of or otherwise dealing with any assets and / or property, and to ensure that there are sufficient assets to warrant a recovery order if the court determines that the defendant has contravened the relevant provisions of the Securities and Futures Ordinance.。

The regulator had earlier issued restraining notices to a total of 17 brokers, freezing the assets of the defendants and prohibiting them from handling or disposing of certain assets in client accounts related to suspected manipulation of the DJF stock market without the prior written consent of the SFC.。Restriction notice still valid。